Verma thereby fulfilled the commitment that he had made prior to the commencement of London Olympics.

Ahead of the commencement of the London Olympics, Verma had announced that he would award the Winners of Gold Medal with Rs. 50 lakh, silver medal winners with Rs. 25 lakh and bronze medal winners with Rs. 20 lakh each.

Speaking on the occasion Verma said that all the Olympic winners are idols for the young men and women of tomorrow.

He said that he is hopeful that performance of Indian athletes in London Olympics will increase consciousness about Olympic sports in the country and lead to better performance in the next Olympic as well.